Lotus/Renault F1 tie-upposted in F108 | 12 | 2010
THIS IS THE first sight of the newly-liveried Formula One car from Group Lotus-sponsored Lotus Renault GP Team. The French car manufacturer has revised its F1 strategy by selling the stake it had in its F1 team back to co-owners Genii Capital and will now focus on being just an engine supplier.
That, in turn, has allowed Genii to sell a stake to Group Lotus - which has led to a renaming of the outfit and a move for the team's colours to be in iconic black and gold next year. Dutch watchmaker TW Steel will continue as a sponsor.
Renault has committed to supply engines to the team for a number of years and the title sponsorship deal with Group Lotus is due to run until the end of the 2017 season.
"We are delighted that we can now go public with the news that we will be racing as Lotus Renault GP in 2011," Gerard Lopez, chairman of Renault F1 Team, said about the deal.
"It is extremely exciting to begin a new era for the team in partnership with Group Lotus, and we will continue to enjoy a strong relationship with Renault over the coming seasons. It is a tribute to the excellent work this year by the team in Enstone that we have been able to attract both major sponsorship and new investment for a very bright future."
The latest announcement, of course, will cause some confusion to F1 fans as Tony Fernandes pushes on with his plans to race as Team Lotus next year. Not only does his team now also have Renault engines, but it too is set to run in black and gold colours.
"I can think of no better platform for automotive brand communications than motorsport and F1 is the very pinnacle of open-wheel racing," Group Lotus CEO Dany Bahar, who has been pushing aggressively for his company's return to motorsport, said.
"We're well aware that there has been a lot of controversy around the usage of our brand in F1 and I'm delighted to be able to formally clarify our position once and for all: we are Lotus and we are back."
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Jim McGill
Note: This artist’s impression may still undergo detail modifications prior to the start of the 2011 season.